Hilton Worldwide announced Wednesday that it has completed its spin-off of Park Hotels & Resorts (Park) and Hilton Grand Vacations (HGV).

The move results in three independent and publicly-traded companies. Hilton said that Park, a real estate investment trust (REIT) and HGV, a timeshare company, will begin "regular way" trading on the New York Stock Exchange Wednesday.

The spin-offs are designed to benefit shareholders by improving their value since REITs often pay fewer corporate taxes and trade at higher multiples of their earnings in comparison to their parent companies.

Source: TravelPulse